Avalon Labs Burns 80 Million AVL Tokens

Avalon Labs, a fintech company focused on Bitcoin-backed capital markets, announced the permanent burning of 80 million AVL tokens. These tokens, worth approximately $16 million, were initially part of an airdrop campaign. According to the Avalon Labs Official Twitter Account, @avalonfinance_, “Avalon Labs has officially burned 80M $AVL, representing 44% of the circulating supply. These unclaimed airdrop tokens, worth approximately $16 million, have now been permanently removed from circulation. Over the past year, a total of $20M worth of $AVL has been claimed by…”

The AVL price surged over 18%, indicating strong market support; this aligns with similar historical token burn events. With its recent $2 billion secured for BTC-backed lending, Avalon Labs aims for increased user engagement and investor alignment. Such burns, seen with Binance’s BNB, often lead to price rallies during deflationary cycles. The AVL token burn could drive long-term positive institutional and investor sentiments toward Avalon Labs’ ecosystem.